Cardano Price Analysis: ADA/USD Sellers Remain in Control Below $0.12

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Key HighlightsADA price extended declines and traded to a new monthly low at $0.1070 against the US Dollar (tethered).There is a crucial bearish trend line formed with resistance near $0.1170 on the hourly chart of the ADA/USD pair (data feed via Bittrex).The pair could drop further if buyers fail to push the price above $0.1170 and $0.1200.Cardano price is facing an uphill task against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses below the $0.1100 level in the near term.Cardano Price AnalysisAfter a short-term correction, cardano price failed to move above the $0.1250 resistance against the US Dollar. The ADA/USD pair topped near the $0.1270 level and started a fresh downside move. It declined sharply and broke the $0.1100 support. A new monthly low was formed at $0.1070 and later the price started trading in a range. It broke the 23.6% Fib retracement level of